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Korean chip stocks rally on Wall Street gains, Anthropic IPO filing

By Maekyung News Service

South Korean semiconductor stocks surged early Tuesday after gains in U.S. technology stocks lifted investor sentiment.

Samsung Electronics shares were up 4.23 percent and SK hynix Inc. rose 5.88 percent as of 9:03 a.m., with their advances later widening.

Samsung Electronics preferred shares rose 4.2 percent, while Samsung Life Insurance Co. and Samsung C&T Corp. gained 2.64 percent and 3.42 percent, respectively.

SK square Co., which holds a stake in SK hynix, jumped 8.58 percent.

The stocks of semiconductor materials, components, and equipment makers also advanced on the tech-heavy Kosdaq market.

Shares of Jusung Engineering Co. rose 5.97 percent, EO Technics Co. gained 5.28 percent, Leeno Industrial Inc. advanced 4.75 percent, Simmtech Co. jumped 11.09 percent, and Wonik IPS Co. climbed 5.26 percent.

The rally followed gains in U.S. technology stocks overnight after AI company Anthropic reportedly filed for an initial public offering (IPO). The company is said to be targeting a valuation of up to $2 trillion and fundraising of $100 billion, which would make it the largest U.S. stock market debut on record if realized.

Anthropic’s financial disclosures reportedly eased concerns over the profitability of AI investments, improving investor sentiment. The Philadelphia Semiconductor Index rose 2.28 percent.

Separately, shares of SK telecom Co., an early investor in Anthropic, climbed 6.1 percent to 76,500 won ($57.8) as of 9:03 a.m. The telecom company invested $100 million in Anthropic in 2023 and is reported to have made additional investments since.

JYP Entertainment Corp., in the meantime, surged as much as 9.31 percent early Tuesday after Japanese investment entities Nexroc Group and SVCV Inc. said they were considering a tender offer for 25 percent to 50 percent of the K-pop agency’s issued shares as early as November.

JYP shares were trading at 38,800 won as of 9:05 a.m., up 7.78 percent from the previous session.

The groups said they were considering offering a 30 percent premium to a reference share price, with the pricing methodology and final terms to be determined later. JYP shares had also jumped more than 14 percent in after-hours trading on Monday.

JYP said it had not received any proposal related to an acquisition of its shares.

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